anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

Yes - things have started to move with EEL.

so they have, but is that informed knowledge attracting interest or just the rumour ..... qui sait?

R88AVE,

well the MM's will have marked i up as they were ware of the rumour I guess.

That brings in the punters, and away you go.

And it promptly falls back again once the buying dries up! Says it all really.

Ha,Ha someone must have read my note and thought buy, buy, buy!!!

Pondy,

Exactly!

SEY market cap now under 300 million!

Max Petroleum, on the otherhand is still around 350 million!

We have production and profits, MAX has some seismic and some spots to drill, I know where I'd rather have my money!

Me too!

In the Bank.

LOL

All imo etc.

SWW,

LOL!

I attended the AGM today, and I have posted this on ADVFN too.


The AGM was positive, and I came away with the feeling that SEY are going to repeat last year's growth again this year.

The current production problems at Ching were discussed, and explained, and it is hoped to resume normal production between Q3 2006 and Q1 2007.

Due to the high oil price, and even allowing for the drop in production, SEY are ahead of where they had budgeted to be at this stage of Ching production!

Apart from the confirmation of the funds already received from Ching, they stated that USA gas is ubhedged, and the price around 30% higher than last year's average, if I remember correctly.

The MOU for Kurdistan was a feature, and it was explained that the regional governemnt there can award contracts, although some members are also in the national government in Baghdad too.

The Norwegian drilling success was mentioned, and SEY are nine months behind where the Norwegians are now.

Madagascar - SEY confrmed they are continuing as operator, with the agreement of Exxon, and the 2D seismic had been undertaken under budget, which had allowed them to expand the area, much to the pleasure of Exxon.

It is felt that 3D seismic will be carried out in 2008, and possible drilling in 2009.

Cameroon - Awaiting the finalisation of the border dispute, and SEY have many expressions of interest for a JV already.

Harry Wilson spoke about the problems of trying to do deals in the current high price environment, and said SEY had lost some recent prospective deals by a wide margin due to their being conservative in their calculations, against some highly optimistic prices being bid by rivals.

As a shareholder, this is what I want to hear, and one reason why I hold SEY, an experienced and prudent board.

He mentioned that they have other possible deals on the table, but they would not overpay in order to secure them.

Harry chatted freely with PI's afterwards, as did other board members,and it was an informative morning.

I came away feeling confident SEY were in good hands, and that the board will enhance shareholder value in the future, as they have in the past.

Thanks Andy

Andy,

My thanks too. Also, good to see that Amvescap continue to buy. Some interesting posts on this thread in my absence. Definitely staying with SEY!

more tax quicker repayment of loan does not effect sey in anyother way imho

ready to move IMO

Sterling Energy PLC
03 July 2006


Sterling Energy PLC ('the Company')

Grant of Options


On 30 June 2006 the Board of the Company granted options over ordinary shares of
1p each ('Ordinary Shares') to the following directors of the Company, at an
option price of 24p per Ordinary Share:

Director Number of No. of Ordinary No of issued
Options Shares over Ordinary Shares
Granted which options already owned
held following or in which
this there is an
notification interest

Richard O'Toole 250,000 7,000,000 22,543,818

Harry Wilson 1,500,000 11,150,000 27,970,092

Graeme Thomson 1,000,000 8,950,000 16,049,558

Paul Griggs 1,000,000 3,000,000 150,000

Andy Grosse 1,500,000 5,000,000 5,500,473

Christopher Callaway 200,000 1,200,000 100,000

Peter Wilde 200,000 2,200,000 620,000

No consideration was paid for the grant of these options.

The period during which these most recently granted options are exercisable is
30 June 2008 to 29 June 2016.

A further 5,955,000 options were also issued to staff on the same conditions.

The total issued share options outstanding is now over 78,175,000 shares, being
5.58% of the current issued share capital. Of these options outstanding,
8,900,000 (0.64%) are held by former directors of the Company, with 69,275,000
(4.94%) being the total held by current staff and directors.

The directors also own or have an interest in 5.2% of the current issued share
capital of the Company as set out above.

3 July 2006




This information is provided by RNS

Evening gents

nice to see big boys getting in line. And a planned hole for start of 2007. Nieghbouring block and all that.

Not sure if this has been posted.

Regards

Anyway puts the right thread back at the top.

Looks like a slow but steady climb back towards 30p... Doing very nicely...

plaudits to Fido over the road.


IRIN , 6 Jul 2006
Kurds approve foreigner-friendly investment law

ARBIL, 6 July (IRIN) - The parliament of Iraq's northern Kurdistan region unanimously approved a new investment law this week in hopes of luring foreign capital to the region.

"We hope the passing of this law will entice foreigners and locals to invest here so we can rebuild infrastructure in the areas of industry, agriculture and transportation," said Dler Haqi Shaways, head of the Arbil-based Kurdistan parliament's economic and financial committee. "This law will offer investors guarantees and facilities with regard to taxation and custom tariffs."

Infrastructure in the region is badly dilapidated as a result of decades of war first between Iraq and Iran, later between Iraq and US-led coalitions and UN sanctions. The new investment law, therefore, will allow foreign companies to bring in the machinery and facilities needed for infrastructure projects free of taxes and custom duties. The legislation will also grant investors 10-year tax holidays upon completion of their respective projects

Before the unification of the region's two separate administrations which had been run by two rival Kurdish factions in May, two different investment laws had been applied. According to those regulations, foreign companies with projects in the region were only allowed to hold minority stakes, while majority shares went to local firms a requirement that served to deter many foreign investors. Under the new legislation, however, foreign firms will be allowed to hold up to 100 percent of a given project.

Additionally, foreigners will also be allowed to own land, a provision opposed by many local economists. "Foreign companies must not be given the right to own property, because that would come at the expense of national sovereignty," said Arbil-based economist Shamal Nouri. He conceded, however, that, in a country as volatile as Iraq, "You need to offer investors certain privileges to motivate them to invest".

Ever since the US-led invasion and occupation of the country in 2003, the Kurdish region has been spared much of the bloodshed seen elsewhere in Iraq, leading a number of foreign companies to set up projects in the area. According to figures from Kurdish Regional Government officials, Turkish firms currently account for the lion's share of investment, estimated to be in the hundreds of millions of US dollars.

According to the nascent constitution, the regional parliament is authorised to pass legislation governing the region's internal affairs. In cases of a dispute between the central government in Baghdad and the regional government, according to the national charter, regional law prevails.

Excellent news Andy.

Pleased the Kurdish Government have ratified the go ahead for foreign investment. Anyone know when we will get started as this area ihas one of the largest oil deposits in the world.

However, one concern I do have is security.

Will be keeping a close eye on this one as I feel there is so much potential for growth. IMO - DYOR

austing2253,

Apparently there are (currently) NO security issues in Iraqi Kurdistan, nor have there been since the US led invasion.

It seems that this area has been maintained as secure, and I have not read anyhting to suggest it will not continue to be so.

All the killing and mayhem is based around the baghdad and Basra areas I believe.